BluSmart’s latest fundraise plan is an investment nightmare

Anmol Singh Jaggi’s all-electric taxi startup has resorted to crowdfunding but the math doesn’t work. Separately, Triton EV is back with another MoU without much action; and Byju Raveendran’s PR smokescreen.

Last week, BluSmart, the Gurugram-based all-electric taxi startup, announced in a LinkedIn post the rollout of BluSmart Assure. Under the programme, it is asking people to invest in its EV fleet and, by extension, a cleaner mobility experience. It marked the moment with the investment by a software engineer in his 20s.

The pitch is this: You buy at least one Tata Tigor EV, which costs around Rs 13.4 lakh after subsidies, and lease it to BluSmart for a 48-month term. The company will deploy these vehicles for its taxi fleet and will pay the owner a monthly lease amount …


Pradip K. Saha

Pradip is a co-founder at The Morning Context and leads our newsletters vertical. He has previously worked at The Ken as a staff writer, at Mint as an assistant features editor and the Deccan Chronicle as a copy editor. He works with a slew of expert newsletter writers across subjects and domains. His own writing spans the gig economy, farmers caught in the crossfire of technology, global warming and parents trapped in the edtech wave. Some of his best stories have come at the intersection of technology and human endeavour.

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